Declining sales and profits are expected to be the nature of the rest of the year according to the latest Dunn & Bradstreet (D&B) National Business Expectations survey.
The research was conducted among businesses in Australia, and likely shares many similarities with British sentiment.
The April edition of the survey reported that 57 per cent of businesses expected to see a drop in sales this year, while almost two thirds (64 per cent) of companies expected a fall in profits.
D&B chief executive, Christine Christian, said that the current situation could worsen before a light appears at the end of the tunnel.
"The deteriorating outlook, particularly for employment, is a sign that no one expects the benefits to be realised immediately and that things are likely to get worse before they get better," she said.
In Britain the outlook has already become bleak, with the UK poised to experience a particularly sharp recession, but businesses could manage a drop in sales with amendments to their supply chains.
Third-party supply chain management companies can offer businesses solutions for cutting costs or streamlining a supply chain.
Reducing Costs:
Do you need to cut your costs? Start here - now!
